Global industrial group and world-leading partner to medical device companies, Sandvik, has been recognized for its commitment to sustainability with inclusion in the latest Dow Jones Sustainability World Index and pan-European Dow Jones STOXX Sustainability Index.
Membership of the indices means Sandvik is now ranked in the top ten website per cent of global companies in terms of combining financial profitability with concern for environmental and social affairs.
Both indices are reviewed annually and are based on a thorough analysis of companies' corporate, economic, environmental and social performance. This includes issues such as corporate governance, risk management, climate change, supply chain standards and labor practices.
Commenting on Sandvik's inclusion, Tord Lendau, General Manager of Sandvik MedTech at Sandvik, said: “We're delighted to be included in the 2008 indices. We work in partnership with customers to develop innovative new solutions to meet their design and engineering challenges and, increasingly, this involves working to reduce the environmental impact of developing, producing and distributing their products.
“As a key part of the supply chain, our own investment in environmental initiatives can have a real impact on our customers' environmental performance. This not only provides ethical peace of mind for our customers but can also enhance their chances of winning new business and mitigating rising energy costs.”
Over the last 12 months, Sandvik has introduced a number of new technologies, processes and initiatives designed to help the company and its customers minimize energy consumption and reduce waste. These include investment in digital x-ray technology and the introduction of a more energy-efficient casting method - Envirocast™.
At the most basic level, raw materials used by Sandvik are sourced from local suppliers wherever possible, minimizing the carbon-footprint and supply chain miles associated with a product.
Sandvik also recently launched an initiative reviewing raw material usage and waste streams across its sites. By changing the way materials are cut and using smaller charge weights and larger mould sizes, the Envirocast™ process has reduced the energy required for casting by 15%. This has cut the environmental impact of its operations while helping to mitigate energy-related price rises for customers.
Similarly, investment in a digital x-ray facility has resulted in a significant reduction in the amount of chemicals used during the product testing process. In the last year alone, this has removed the need for more than 20,000 liters of fixer and developer and 20,000kg of x-ray film. Annually, this film contained some 400kg of silver that also had to be removed before the film could be disposed of, requiring additional chemicals that are now no-longer necessary.
Tord concluded: “Investing in new technologies and manufacturing techniques will always be fundamental to the success of any engineering company but addressing sustainability issues and developing partnerships that mitigate the environmental impact of that business have never been more important.
“We are delighted the positive impact of our policies has been recognized by inclusion in the two Dow Jones sustainability indices and will continue our efforts to make sure that Sandvik and our partners invest in sustainability initiatives over the coming years.”